secwatch.observer — SEC 8-K summary
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Issuer:     Passage BIO, Inc. (PASG)
CIK:        0001787297
Form:       8-K
Filed at:   2026-04-28T23:59:59+00:00
Accession:  0001104659-26-049755
Event type: other_material
Sentiment:  negative
Materiality: 0.90
Item codes: 2.05
LLM model:  deepseek-v4-flash:cloud@v2

Passage Bio cuts ~75% of workforce, expects $3.3M in severance costs
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- Workforce reduction of approximately 75%; substantial completion expected in Q2 and Q3 2026.
- Aggregate severance and exit costs estimated at $3.3 million, primarily recorded in Q2 2026.
- Restructuring part of previously announced strategic alternatives review to maximize shareholder value.
- Severance benefits contingent on execution of release of claims by impacted employees.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1787297/000110465926049755/0001104659-26-049755-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1787297/000110465926049755/tm2612859d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-049755

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer